SMC confirms interest in PAL
SMC separately said through a Philippine Stock Exchange disclosure on the same day that it was invited by PAL owner Lucio Tan to “participate and assist in the refleeting and modernization of the aircrafts of Philippine Airlines.”
SMC said the move was in anticipation of the “projected heavy influx of tourists in the coming years.”
But talks, at least for now, do not involve an investment by SMC in Philippine Airlines’s listed operator, PAL Holdings Inc., the latter said in a disclosure.
“Please be informed that there is presently no discussion on the possible investment by San Miguel Corp. in PAL Holdings Inc.,” PAL Holdings said.
In a separate statement, the airline’s management also denied involvement in any discussion with SMC for a possible investment in the flag carrier.
Badrawi has championed the privatization of healthcare, and created a national private healthcare industry with significant capital and legitimacy. This industry is threatened by global competition and describes itself in nationalistic,